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UBS has issued a double downgrade for Commercial Metals Company (CMC), lowering its rating from Buy to Sell, reflecting a bearish outlook on the steel industry. The firm also downgraded Steel Dynamics (STLD) and Nucor (NUE) to Neutral, citing a less compelling risk-reward profile for the sector.
Steel Dynamics, Inc. focuses on producing and marketing carbon steel products, with net sales primarily derived from steel product sales (66.2%), processing of steel and metal scrap (21.3%), and production of steel components for non-residential construction (8%). Other activities account for 4.5% of sales.
Steel Dynamics, Inc. has received an upgrade to neutral from UBS. The company focuses on manufacturing and marketing carbon steel products, with sales distribution as follows: 66.2% from steel products, 21.3% from steel and metal scrap processing, 8% from steel components for non-residential construction, and 4.5% from other activities.
Shares of Steel Dynamics (STLD) and Nucor Corp (NUE) fell by 5% and 4%, respectively, following UBS's downgrade of both companies to "neutral." UBS cited weak fundamentals for STLD and limited near-term upside, lowering its price target for STLD from $145 to $149 and NUE from $171 to $156. Prior to the downgrade, NUE shares had dropped 20%, while STLD had seen a 13% increase since the start of the year.
UBS has downgraded its ratings for Steel Dynamics, Nucor, and Commercial Metals Company. This decision reflects a shift in the financial outlook for these companies within the steel industry. Investors should consider the implications of this downgrade on their portfolios.
Steel Dynamics' senior vice president now owns 116,949 shares valued at approximately $16.7 million, reflecting a 5.38% decrease in ownership. Insiders sold 28,591 shares worth $3.9 million last quarter, while institutional investors hold 82.41% of the stock. Analysts maintain a "Hold" rating, with price targets ranging from $134 to $155.
UBS has downgraded several steel companies, including Steel Dynamics and Nucor, to Neutral, while Commercial Metals Company has been downgraded to Sell. The analysts believe Steel Dynamics' stock will take a "breather" following its recent outperformance.
Steel Dynamics, Inc. focuses on manufacturing and marketing carbon steel products, with sales primarily from steel products (66.2%), followed by treatment and processing of steel and metal scrap (21.3%), and production of steel components for non-residential construction (8%). Other activities account for 4.5% of sales.
Steel Dynamics, Inc. focuses on producing and marketing carbon steel products, with net sales primarily derived from steel product sales (66.2%), processing of steel and metal scrap (21.3%), and producing steel components for non-residential construction (8%). Other activities account for 4.5% of sales.
U.S. markets retreated after a week of postelection gains, with the S&P 500 down 0.29% and the Dow Jones Industrial Average falling 0.86%. While some stocks, like Tesla, continue to rise, early winners from the "Trump trade" are losing momentum, reflecting a potential shift in investor sentiment as economic data looms. Bitcoin briefly reached $90,000 but retreated to around $87,942.05, while Netflix's ad-supported tier gained 70 million users globally.
Steel Dynamics, Inc.
Companies
| Symbol | STLD |
| Name | Steel Dynamics, Inc. |
| Currency | USD |
| Sector | Materials |
| IndustryGroup | Materials |
| Industry | Metals & Mining |
| Market | NASDAQ Global Select |
| Country | United States |
| State | IN |
| City | Fort Wayne |
| Zipcode | 46804 |
| Website | http://www.steeldynamics.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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